Gold Settles $50.30 Lower ... ($1565.50)

Today's August Gold futures traded a mammoth $43.40 volatile range.

The fallout from the FOMC's hesitance to inject more stimulus into U.S economy continued across the globe as investors and traders world-wide where once again disappointed in the FED's non- committal action. Apparently FOMC Chairman Bernanke's statement we are prepared to do more wasn't enough to keep Gold bugs confident in their long positions.

There is certainly a trend forming...Bernanke speaks and precious metals get crushed!

This trend started February 29th....The U.S Department of Labor released last week's Initial Jobless Claims as 387.000. This was expected to be 383,000....

July Silver got clobbered as well...Settling $1.55 lower ... ($26.83.9 per ounce)

MY SWING NUMBERS 6/22

Wholesale

August Gold

RESISTANCE # 2............. $1623.00

RESISTANCE # 1............. $1595.00

PIVOT........................... .$1580.00

SUPPORT # 1...................$1551.00

SUPPORT # 2...................$1537.00

VOLUME.........................211, 000

July Silver

RESISTANCE # 2.................$28.51

RESISTANCE.#1................. $27.68

PIVOT................................$27.24

SUPPORT # 1..................... $26.40

SUPPORT # 2......................$25.97

VOLUME............................ 60,000

There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.